NEW YORK--(BUSINESS WIRE)--Pomerantz LLP announces that a class action lawsuit has been filed against Henry Schein, Inc. (“Henry Schein” or the “Company”) (NASDAQ: HSIC) and certain of its officers. The class action, filed in United States District Court, Eastern District of New York, is on behalf of a class consisting of investors who purchased or otherwise acquired securities of Henry Schein between March 7, 2013, and February 12, 2018, both dates inclusive (the “Class Period”). Plaintiff seeks to recover compensable damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Henry Schein securities between March 7, 2013, and February 12, 2018, both dates inclusive, you have until May 7, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
Henry Schein, Inc. distributes healthcare products and services including practice management software to office-based healthcare practitioners. The Company has operations in North America and other countries. Henry Schein's operations include direct marketing, telesales, and field sales.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company conspired with other dental supply companies to violate federal antitrust laws; (ii) discovery of the foregoing conduct would subject the Company to heightened regulatory scrutiny and potential criminal sanctions; and (iii) that as a result of the foregoing, Henry Schein’s public statements were materially false and misleading at all relevant times.
On February 12, 2018, the Federal Trade Commission (“FTC”) revealed that it filed a complaint against the country's three largest dental supply companies, Henry Schein, Benco Dental Supply Company (“Benco”), and Patterson Companies, Inc. (“Patterson”), alleging violations of U.S. antitrust laws by conspiring to refuse to provide discounts to or otherwise serve buying groups representing dental practitioners. The complaint specifies communication between the Benco and Henry Schein executives, evidencing the agreement and their attempts to monitor and ensure compliance with the agreement. The FTC also alleges that Patterson joined the agreement.
On this news, Henry Schein’s share price fell $4.79, or 6.63%, to close at $67.39 on February 13, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com